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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 689.17

+0.2%

Dec 11 4:00 PM EST

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To: OX who wrote (28630)	10/7/1999 8:19:00 AM
From: donald sew	Read Replies (1) of 99985

OX, >>>> I also noticed that the NYSE NH/NL was worse all day today than yesterday's (except for the NL at the close which pulled to just less than yesterdays)... I think this is just lagging tho. <<<< decisionpoint.com Per the above chart both the NL and NH worsened slightly. Although Im aware that it takes time for the NL/NH to catch up and lags, subjectively I have to consider the fact that the market was up very strong and was positive from the open. Such positive move in the price action should have at least produced at least some sort of improvement in either the NL/NH. Therefore I consider that a short-term negative and needs confirmation. What it also tells me is that the rally was still narrow, and SECTOR ROTATION was still alive. Granted that most of the major indices were up strong, but the broader market still lagged. Im not saying that the market cant move higher and that some/few sectors cant set new highs, but Im still inclined to call a TRADING RANGE as we have seen since the spring. seeya

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